Funding arb · Price arb /

POPCAT

all POPCAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0328%/8h= +35.9% APRpaid last 24h +0.098%

Price spread now: Bitget against Reya+0.025%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Bitget is 0.025% dearer against Reya than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya POPCATRUSDPERP	0.05625	−0.0228	get 0.0029% / 1h	28m 09s	$1	—	10x
Short	Bitget POPCATUSDT	0.05626	0.0100	get 0.0050% / 4h	3h 28m	$1.2M	$982K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee BitgetbpOrdersPrice spread, now +0.025%Rate

Funding earned: $68.94
Price spread: +0.025% → 0.000%: $2.46
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: $53.4
Costs to cover: 0.180%
Break-even: 1.6 days

Slippage unknown: Reya: no order-book sample; Bitget: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Reya no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	8.01 bp	28.2 bp −$28	110.6 bp −$1,106	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

POPCAT on 18 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective POPCAT/USDC PERP	−0.4200%	1h	0.05620	−0.082%	$3K	$2K	5.5x	as long as short
Kraken Futures PF_POPCATUSD	−0.1127%	1h	0.05619	−0.098%	$151K	$149K	20x	as long as short
Reya POPCATRUSDPERPlong	−0.0228%	1h	0.05625	long leg	$1	—	10x
Lighter POPCAT	+0.0096%	1h	0.05630	+0.096%	$98K	$55K	10x	as long as short
Hyperliquid POPCAT	+0.0100%	1h	0.05644	+0.345%	$2.7M	$1.4M	3x	as long as short
Binance POPCATUSDT	+0.0100%	4h	0.05641	+0.294%	$2.5M	$7.9M	50x	as long as short
Bybit POPCATUSDT	+0.0100%	4h	0.05625	+0.007%	$8.9M	$7.5M	50x	as long as short
OKX POPCAT-USDT-SWAP	+0.0100%	4h	0.05641	+0.291%	$681K	$1.7M	20x	as long as short
Gate POPCAT_USDT	+0.0100%	4h	0.05630	+0.096%	$403K	$471K	50x	as long as short
MEXC POPCAT_USDT	+0.0100%	4h	0.05631	+0.114%	$1.9M	$1.1M	200x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin POPCATUSDTM	+0.0100%	4h	0.05629	+0.078%	$1.1M	$846K	50x	as long as short
Bitget POPCATUSDTshort	+0.0100%	4h	0.05626	+0.025%	$1.2M	$982K	50x
BingX POPCAT-USDT	+0.0100%	4h	0.05633	+0.149%	—	$6.8M	—	as long as short
Variational Omni POPCAT	+0.0100%	4h	0.05624	−0.010%	$475K	$179K	—	as long as short
GRVT POPCAT_USDT_Perp	+0.0100%	4h	0.05632	+0.130%	$246K	$477K	10x	as long as short
ApeX Omni POPCATUSDT	+0.0100%	1h	0.05630	+0.096%	$22K	$654K	25x	as long as short
Extended POPCAT-USD	+0.0104%	1h	0.05639	+0.259%	$95K	$750K	10x	as long as short
BloFin POPCAT-USDT	+0.0340%	4h	0.05623	−0.029%	$130K	$339K	50x	as long as short